AEOI – Automatic Exchange of Information
Areas of Practice
Tax Planning Automatic Exchange Of Information
Automatic Exchange of Information agreements (AEOI) is made between countries. These agreements allow the exchange of information between tax authorities of different countries about financial accounts and investments to help stop tax evasion.
Financial institutions, for example, banks, building societies, insurance companies, investment companies, will have to provide information on non-residents with financial accounts and investments in a Country to the Tax Government. A Tax Government will share this information with other relevant countries.
Tax Authorities in a relevant country will receive information from other countries about residents with financial accounts and investments overseas.
There are Automatic Exchange of Information agreements under 4 regimes. Find out more and speak to us.
What Are The Consequences?
Any country that signed up for OECD AEOI will receive information from other countries about residents with financial accounts and investments overseas, enabling the Tax Authorities to match Tax Declarations and Information given by the Tax Payer. In fact, that means total Transparency.
Countries already started collecting information from 2016 onwards.
A professional team of Experts, specialized in International Taxation and focussed in Tax Consulting & Advisory with international experience, will bring you valuable high-end expert advice. We take care of the whole process, from Accessing your personal circumstances, Tax Consulting and Advisory to suit fit your needs and implementation of better suitable structures.
Speak to us to access your personal situation.
We offer an initial Consultation free of charge via Skype.
International Taxation
Nowadays it is important to have ever increasing OECD Standards in mind to avoid possible Tax and Criminal Allegations through non-compliant and validated Corporate Structures. Speak to us to find out your Alternatives.
International Taxation – CFC-Rules
Do I need to consider CFC-Rules if I own an Offshore entity? Get in touch and find out more.
Offshore or Onshore
It is surely not forbidden to own an Offshore Company for a legitimate purpose. However, if the only purpose of your Offshore entity is Tax Avoidance or even worse Tax Evasion, you should reconsider all options.
Through latest OECD developments – AEOI and CRS Standards – there is no space for any undeclared income or hidden assets.
Speak to us to find more about how to comply with national Tax rules.
WHO Joined OECD’s AEOI
Please find out if your Country joined the latest OECD Standards.
https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
CRS – Common Reporting Standards
As the world becomes increasingly globalised and cross-border activities become the norm, tax administrations need to work together to ensure that taxpayers pay the right amount of tax to the right jurisdiction.
A key aspect for making tax administrations ready for the challenges of the 21st century is equipping them with the necessary legal, administrative and IT tools for verifying compliance of their taxpayers. Against that background, the enhanced co-operation between tax authorities through AEOI is crucial in bringing national tax administration in line with the globalised economy.
TINs & Tax Residency Information
In addition to the latest CRS Standards, jurisdictions have made information available with respect to their Tax Identification Numbers (TINs) and tax residency rules, in order to help both taxpayers and financial institutions to comply with their obligations under the CRS.
Please ask for more information about how this will change a tax approach.